World Bank lending to India this year to touch $9.3bn

[Spring Onion]

Total lending to India this year to touch $9.3bn: World Bank
PTI, Jun 23, 2010, 04.32pm IST


NEW DELHI: The World Bank today said its total lending to India will touch $9.3 billion for the fiscal ending June this year.

The total expected lending this year includes $2.6 billion in interest-free credit and $6.7 billion in the form of a long-term, low interest loan, the World Bank said in a statement.

"Part of this lending is in support of the government of India's response to the global financial crisis. Another significant portion is aimed at helping the country remove infrastructure constraints to high growth," World Bank Country Director (India) Roberto Zagha said.

These loans are spread across five new projects and are aimed at helping India sustain growth.

The World Bank follows a fiscal year from July to June. The lending also includes a $2 billion package to provide capital to facilitate credit expansion of some of the public sector banks and prevent a shortfall of capital from affecting India's economy in the wake of the global economic crisis, he added.


Total lending to India this year to touch $9.3bn: World Bank - India - The Times of India

 

[Ammyy]

The lending also includes a $2 billion package to provide capital to facilitate credit expansion of some of the public sector banks and prevent a shortfall of capital from affecting India's economy in the wake of the global economic crisis, he added.

 

[TechLahore]

Debt - internal and external - is a serious problem for the Indian economy. It appears to be falling into a debt trap, continuing to finance gaping budget deficits with borrowed money. Moody's warned on India's credit rating last year as a consequence of ballooning debt.

See this thread: http://www.defence.pk/forums/world-...010-11-strapped-shackled-past.html#post949740

 

[Justin Joseph]

Total lending to India this year to touch $9.3bn: World Bank
PTI, Jun 23, 2010, 04.32pm IST


NEW DELHI: The World Bank today said its total lending to India will touch $9.3 billion for the fiscal ending June this year.

The total expected lending this year includes $2.6 billion in interest-free credit and $6.7 billion in the form of a long-term, low interest loan, the World Bank said in a statement.

"Part of this lending is in support of the government of India's response to the global financial crisis. Another significant portion is aimed at helping the country remove infrastructure constraints to high growth," World Bank Country Director (India) Roberto Zagha said.

These loans are spread across five new projects and are aimed at helping India sustain growth.

The World Bank follows a fiscal year from July to June. The lending also includes a $2 billion package to provide capital to facilitate credit expansion of some of the public sector banks and prevent a shortfall of capital from affecting India's economy in the wake of the global economic crisis, he added.


Total lending to India this year to touch $9.3bn: World Bank - India - The Times of India

For your kind information World bank also provide loans to the greatest super power on planet earth ever "China".

India is now the seventh largest member in terms of voting power votes are granted depending on a country's financial contributions to the World Bank.

Hence, India is one of the largest contributor of the World Bank. In simple worlds we also fund World Bank.

 

[Justin Joseph]

Debt - internal and external - is a serious problem for the Indian economy. It appears to be falling into a debt trap, continuing to finance gaping budget deficits with borrowed money. Moody's warned on India's credit rating last year as a consequence of ballooning debt.

See this thread: http://www.defence.pk/forums/world-...010-11-strapped-shackled-past.html#post949740

Really??????

Can u plz do the hard work of just Google about the Debts of USA, and Japan. The biggest economies and financially sound nation.

US Fiscal Deficit Projected At 12.3% of GDP In 2009

http://fistfulofeuros.net/afoe/econ...scal-deficit-projected-at-123-of-gdp-in-2009/

The situation of Japan

The problems facing Japan are well understood: there is no growth, and a fiscal-deficit timebomb: gross debt is approaching 200% of GDP, far worse than any other rich country.

 

[TechLahore]

^^ Justin, before you get all upset please consider that the US prints the dollar. The dollar is the world's currency. The US can print dollars and *export* inflation. India cannot. And despite all this, there is massive worry in the US on their external debt situation. Don't you read dozens of articles every month about China, Japan and the ME nations holding trillions in US debt?

Everything is not a competition. And if it is, at least understand that you are not playing the same game as the US. The rules are fundamentally different for them. Until the INR is established as the world's foremost currency - the de-facto currency of the world - I don't think your comparison has any merit.

Thanks for sharing your views.